Nov 15 Beverage can maker Rexam Plc said
its healthcare business performed below expectations as its
pharma division lost some business in animal health.
The healthcare business, which contributes about 10 percent
of the company's total sales, makes precision medical devices
such as bronchial inhalers, injection syringes and tubes.
Rexam, whose cans are used by companies such as PepsiCo Inc
, Red Bull GmbH and Carlsberg A/S, however
reported a 6 percent rise in global sales volumes at its
beverage can business.
"The 3Q IMS appears broadly in line with expectations other
than for Healthcare, whose performance has weakened," Jefferies
analyst Sandy Morris wrote in a note.
The company also said the divestment of its personal care
business was in its final stages.
"We are on track to return 370 million pounds ($586.36
million)of the proceeds to shareholders," Chief Executive Graham
Rexam said in July that it would sell its underperforming
personal care business in two parts for $709 million in cash.
Shares in Rexam were down 1.4 percent at 435 pence at 0858
GMT on the London Stock Exchange on Thursday.